Dax 30; Ftse 100; SP 500 - Market View

[psaTrading]

In the currency market, the Dollar depreciated against some currencies, after reinforced the perception that the Fed will not accelerate the pace of normalization of interest rates.

 

[psaTrading]

In the pre-opening, the European markets negotiated slightly higher, despite the uncertainty that stems from the terrorist attack in London. The Pound depreciated to the lowest of the last six days against the US Dollar. Investors, however, should monitor developments in the US political-economic landscape.

 

[psaTrading]

In March, the main US indices did not show any progress but also did not suffer any correction. After the sharp fall on the 21st March, some doubts seem to be emerging.

 

[psaTrading]

With regard to the real estate market, sales of new homes increased from 6.10% in February to 592,000, the highest of the last 7 Months. Estimates pointed to the 564,000 houses sold.

 

[psaTrading]

According to a study conducted by Bank of America in the week ending March 13, stock funds have been redeemed in the order of 8900 M.USD, the highest amount in the previous 38 weeks.

 

[psaTrading]

European markets closed higher, with concerns about US policy developments dwindling.

 

[psaTrading]

The financial sector, one of the most penalized in recent days, as well as the energy sector, helped by rising oil prices, helped to sustain market gains. Oil rose again, albeit mildly, after news of the collapse of production in Libya over conflicts with armed rebel factions. The Dollar recovered from recent declines that drove the US currency to a 4-month low over fears about the Trump Administration’s difficulty in delivering the anticipated, fiscal measures with an expected positive economic impact.

 

[psaTrading]

Asian stock markets closed lower, with investors showing some uncertainty over the Brexit process and its impact. The Yen appreciated affecting the main exporting companies.

 

[psaTrading]

Governor of the Bank of France, Villeroy de Galhau, said this week that the acceleration of inflation is not enough to remove Quantitative Easing and added that ECB policy will continue to evolve according to economic circumstances.

 

[psaTrading]

The number of weekly applications for unemployment benefits has decreased by 3000 to 258 000, thus maintaining the longest series since 1970 from a level of this indicator below 300 000.